Alan Greenspan
Alan Greenspan
Alan Greenspanis an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position...
NationalityAmerican
ProfessionEconomist
Date of Birth6 March 1926
CityNew York City, NY
CountryUnited States of America
business greatness views
I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
business capital community created economic endeavors existing experience five hour labor output past reflects resources rise stretch sure until value ways
Until we experience an economic slowdown, we will not know for sure how much of the extraordinary rise in output per hour in the past five years is attributable to the irreversible way value is created and how much reflects endeavors on the part of the business community to stretch existing capital and labor resources in ways that are not sustainable over the long run,
affect aggregate alignment assisted benefits demand economic federal financial full growth innovative market necessary potential risk until vigilant
Until market forces, assisted by a vigilant Federal Reserve, affect the necessary alignment of aggregate demand with the growth of potential aggregate supply, the full benefits of innovative productivity acceleration are at risk of being undermined by financial and economic instability,
education essential forces great living majority overall rising standards
through education and training, not by restraining the competitive forces that are so essential to overall rising standards of living of the great majority of our population.
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Throughout all this history, the CEA has, in most cases, provided the president with the best economic advice available at the time and has, crucially, been a consistent advocate for the importance of market forces,
activity although continue contrast force household last major potential sector spending trend usual
Through most of last year's slowdown, in contrast to the usual pattern, the household sector was a major stabilizing force, ... As a consequence, although household spending should continue to trend up, the potential for significant acceleration in activity in this sector is more limited.
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The critical issue should be how to strengthen the legal base of free market capitalism: the property rights of shareholders and other owners of capital, ... Fraud and deception are thefts of property.
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The fact of the matter is, we do not have an unlimited amount of labor, ... the wealth effect cannot persist indefinitely.
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We should not be cutting taxes by borrowing, ... We should be cutting taxes by reducing the level of spending and that's an issue that I think is critically on the table.
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We should not be cutting taxes by borrowing, ... We do not have the capability of having both productive tax cuts and large expenditure increases, and presume that the deficit doesn't matter.
cutting taxes
We should not be cutting taxes by borrowing,
avoids change meeting schedule terms
This schedule change avoids a meeting that spans the terms of two chairmen,
call clearly corporate distant future issue major people saying sector whatever
What I see in the corporate sector is very clearly an issue of a major shortfall in the issue of, what some people call confidence, but whatever you want to call it. Clearly people are looking out in the very distant future and they are saying that it is too complex.
capacity concept dealing employ facilities production rigid
Manufacturing capacity is not a rigid level against which one bounces. When you are dealing with a world economy, with a flexibility to employ production facilities other than one's own, then the concept of capacity is vaguer.